AssetMark Launches Private Wealth Program as 55% of Advisors Fear Losing Rich Clients
Updated
Updated · InvestmentNews · Nov 2
AssetMark Launches Private Wealth Program as 55% of Advisors Fear Losing Rich Clients
3 articles · Updated · InvestmentNews · Nov 2
Summary
AssetMark on Monday rolled out AssetMark Private Wealth, a platform program that adds planning, customizable portfolios, and specialist support for tax, private markets, lending, cash and charitable giving.
A survey of 400 independent advisors and RIAs drove the launch: 55% said they are highly concerned about losing high-net-worth clients, while 52% fear rivals with broader service menus will win them away.
Tax emerged as the biggest service gap. While 60% of advisors said wealthy clients expect tax planning, only 26% offer it as a primary service; similar gaps showed up in tax optimization, legacy planning and philanthropy.
Larger firms felt the pressure most, with about six in 10 practices managing at least $250 million in AUM worried about attrition, versus 34% to 38% at smaller firms.
The stakes are rising because wealthy households dominate the market: the top 10% of U.S. households held nearly 69% of net worth in the second quarter of 2026.